ISLE OF MAN, U.K.—Three different meetings are being held here this week for a Q&A related creating a credit union to serve residents of this island halfway between England and Ireland. Among the questions to be discussed: What is a credit union? And why does the Isle of Man need one?
Organizers are seeking launch what would be called Manx Credit Union.
The discussion is being led byManx Credit Union Working Party Chairman David Talbot, who will be leading the three discussions, each expected to be about 40 minutes long.
Another discussion and Q&A has been set for June 19.
According to local media, a recent public consultation on credit unions in the Isle of Man is now being considered by the Financial Supervision Commission.
“We have 600 people who have signed an expression of interest in being a member of a Manx Credit Union and over 100 people who have offered to volunteer with the project in some form, which is greatly appreciated,” Talbot told local media. “We are looking forward to the formal response from the Financial Supervision Commission following the consultation and we hope this will spur on Government to bring forward new legislation enabling the formation of a credit union as soon as possible.”